The International Monetary Fund (IMF) has reaffirmed that India remains a key driver of global economic growth, despite challenges posed by the Iran conflict and higher energy prices.
Speaking at a regular IMF press briefing, Director of the IMF’s Communications Department Julie Kozack said India’s economy has remained resilient in the face of external headwinds, supported by robust domestic demand.
The IMF has retained its growth forecast for India at 6.5 per cent for the financial year 2026–27, maintaining the upward revision announced in April. Kozack said the outlook reflects strong economic momentum carried over from last year, along with lower U.S. tariff rates that helped cushion the impact of the global energy shock.
She noted that India’s economy outperformed expectations during the first quarter of the calendar year.
Commenting on global developments, Kozack said the IMF views the recent ceasefire in the Middle East and progress toward reopening the Strait of Hormuz as positive signs for the global economy. While oil prices have eased from their recent peak, they remain around 10 per cent above pre-conflict levels, with prices of some other commodities also beginning to moderate.
The IMF is expected to release its updated global economic projections on July 8.
